Portland, OR, Aug. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Ligation Devices Market was estimated at 946.2 million in 2020 and is expected to hit $1.68 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Rise in prevalence of diseases requiring ligation devices, surge in preference to minimally invasive instruments, and increase in healthcare expenditure drive the growth of the global ligation devices market. On the other hand, high price associated with ligation devices impede the growth to some extent. However, growing opportunities in the developing economies have been beneficial for the market growth.
COVID-19 scenario-
- Shortage of skilled workforce as well as limitation in required resources, especially during the initial stage of the pandemic, led to the postponement of elective surgical procedures, which in turn impacted the global ligation devices market negatively.
- However, with mass immunization drive onboard, the global situation is being ameliorated slowly, and the market is anticipated to revive soon.
The global ligation devices market is analyzed across product, application, end user, and region. Based on product, the handheld instruments segment held the major share in 2020, garnering more than two-thirds of the total market. The accessories segment, however, would cite the fastest CAGR of 6.9% during the forecast period.
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By application, the gastrointestinal and abdominal surgeries segment accounted for nearly one-fifth of the total market revenue in 2020, and is anticipated to retain its dominance by 2030. The cardiovascular surgeries segment, on the other hand, would grow at the fastest CAGR of 7.7% from 2021 to 2030.
Based on region, the market Asia-Pacific contributed to the major share in 2020, holding nearly two-fifths of the global ligation devices market. The same region would also grow at the fastest CAGR by 6.8% from 2021 to 2030. The other provinces studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global ligation devices market report include Ethicon (Johnson and Johnson), ConMed Corporation, Olympus Corporation, Applied Medical, B.Braun Melsungen AG, Cooper Surgical, Genicon, Inc., Grena Think Medical, Teleflex Incorporated, and Medtronic PLC. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
